Event Details

Momentum Investing: Simple, but not Easy

Eugene Fama, father of the efficient market hypothesis, and co-author Ken French have summarized the academic research on momentum as follows: "The premier anomaly is momentum." Fama and French make this statement because empirical research on the momentum effect is compelling. Academic researchers have examined stock data going back over 200 years and identified a robust historical performance record. Wesley Gray believes that the momentum anomaly is a sustainable active investment strategy because 1) the returns are driven by innate human bias, and 2) following the strategy is difficult because of enhanced volatility and career risk considerations.

After serving as a captain in the United States Marine Corps, Dr. Wesley Gray earned an MBA and a PhD in finance from the University of Chicago and worked as a finance professor at Drexel University. Dr. Gray’s interest in bridging the research gap between academia and industry led him to found Alpha Architect, an asset management firm that delivers affordable active exposures for tax-sensitive investors. Wes is a regular contributor to multiple industry outlets, including the Wall Street Journal, Forbes, ETF.com, and the CFA Institute. Wes currently resides in the suburbs of Philadelphia with his wife and three children.

AAII members who preregister are entitled to bring a guest — at no charge to you or your friend — who has never attended an AAII seminar before. Your guest will not be asked for a contribution of any kind.

When you preregister, you don't need to know the name of your friend or even whether you'll invite one at all. But if you do, just have your guest show up and mention your name. It's that easy!

Refunds: Contact us at least 24 hours before the event begins, and you will receive a full refund.

Saturday, May 19, 2018 from 9:45 AM to 12:45 PM (PDT)

Organizer

AAII local chapters — grassroots organizations led by volunteer members — allow AAII to extend its mission "person to person" to individual investors in their own communities by programming meetings that provide unbiased investment education in a social context.